BIT Capital GmbH Invests $1.15 Million in Cullinan Therapeutics, Inc. (NASDAQ:CGEM)

BIT Capital GmbH acquired a new stake in shares of Cullinan Therapeutics, Inc. (NASDAQ:CGEM - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 94,344 shares of the company's stock, valued at approximately $1,149,000. BIT Capital GmbH owned approximately 0.16% of Cullinan Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Cullinan Therapeutics by 580.9% during the 4th quarter. JPMorgan Chase & Co. now owns 198,214 shares of the company's stock worth $2,414,000 after purchasing an additional 169,104 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Cullinan Therapeutics in the fourth quarter valued at about $179,000. KLP Kapitalforvaltning AS purchased a new stake in Cullinan Therapeutics during the 4th quarter valued at about $83,000. American Century Companies Inc. lifted its position in Cullinan Therapeutics by 11.0% during the fourth quarter. American Century Companies Inc. now owns 100,721 shares of the company's stock valued at $1,227,000 after purchasing an additional 10,010 shares during the period. Finally, Intech Investment Management LLC grew its position in Cullinan Therapeutics by 81.7% during the 4th quarter. Intech Investment Management LLC now owns 31,782 shares of the company's stock worth $387,000 after purchasing an additional 14,295 shares during the period. Hedge funds and other institutional investors own 86.31% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley reiterated an "overweight" rating and set a $35.00 price target (down from $38.00) on shares of Cullinan Therapeutics in a research report on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Cullinan Therapeutics in a report on Friday, February 28th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cullinan Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $32.86.

Insider Activity at Cullinan Therapeutics

In other news, insider Jennifer Michaelson sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $12.51, for a total value of $50,040.00. Following the completion of the sale, the insider now directly owns 95,760 shares of the company's stock, valued at $1,197,957.60. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nadim Ahmed sold 12,529 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.53, for a total transaction of $106,872.37. Following the sale, the chief executive officer now directly owns 430,621 shares in the company, valued at approximately $3,673,197.13. This represents a 2.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,424 shares of company stock worth $198,667 in the last quarter. Company insiders own 6.07% of the company's stock.

Cullinan Therapeutics Price Performance

Shares of NASDAQ:CGEM traded down $0.64 during mid-day trading on Monday, reaching $7.38. 114,332 shares of the company were exchanged, compared to its average volume of 444,357. The firm has a market cap of $431.71 million, a price-to-earnings ratio of -2.61 and a beta of -0.12. The firm's 50-day simple moving average is $9.31 and its 200 day simple moving average is $12.55. Cullinan Therapeutics, Inc. has a 1 year low of $7.30 and a 1 year high of $30.19.

Cullinan Therapeutics (NASDAQ:CGEM - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.02. On average, research analysts forecast that Cullinan Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Cullinan Therapeutics Profile

Cullinan Therapeutics, Inc, a biopharmaceutical company, focuses on developing oncology therapies for cancer patients in the United States. The company's lead program comprises CLN-619, a monoclonal antibody that is in Phase I clinical trial for the treatment of solid tumors. Its development portfolio also includes CLN-049, a humanized bispecific antibody that is in Phase I clinical trial for the treatment of acute myeloid leukemia or myelodysplastic syndrome; CLN-418, a human bispecific immune activator that is in Phase 1 clinical trial for the treatment of multiple solid tumors; and Zipalertinib, a bioavailable small-molecule for treating patients with non-small cell lung cancer.